In theories that idealize the object of study, falsity is inserted somehow. However, the actual propositions by which the idealization takes place need not be false at all. An example from physics illustrates that the Ideal Gas Law and Boyle's Law are respective idealizations of the van der...

Julian Reiss finds an insoluble paradox in the claims that economic models are at the same time false, nevertheless explanatory, and that only true explanations explain. But the claim that they are false is itself false. A closer look at what 'truth' may mean is needed.

This paper discusses and develops an important distinction drawn by Jevons, viz . that between natural and fictitious quantities. This distinction provides a basis for a theory of economic concept formation that aims at picking out families of models that are phenomenally adequate, explanatory...

I respond to some challenges raised by my critics. In particular, I argue in favour of six claims. First, against Alexandrova and Northcott, I point out that to deny the explanatoriness of economic models by assuming an ontic (specifically, causal) conception of explanation is to beg the...

This paper aims (a) to provide characterizations of realism and instrumentalism that are philosophically interesting and applicable to economics; and (b) to defend instrumentalism against realism as a methodological stance in economics. Starting point is the observation that ‘all models are...